Floki Inu is a “Dog Copycats” meme coin project (the cryptocurrency with the symbol of dogs), born in 2021 after the tweet of Tesla CEO – Elon Musk. Although it is a meme coin project, Floki Inu focuses on long-term development to create an autonomous and decentralized ecosystem, integrating many utilities for its token through Metaverse, NFT, DeFi,…
Besides, Floki Inu is seriously involved in many charity and humanitarian projects, such as partnering with Million Gardens Movement to promote healthy eating habits through self-build farming; collaborate with Pencils of Promise to build schools on every continent, especially in less developed countries around the world. Each purchase/sale of FLOKI tokens will be charged a 3% tax to transfer to Floki Inu’s warehouse, exclusively for developing charity projects.
The Floki ecosystem includes:
FLOKI is a native token of the Floki Inu ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
FLOKI may see a price increase of 20%, targeting 0.00000723 USD. If it maintains above 0.0000056 USD, reaching this target is highly probable.
Currently, FLOKI is trading at 0.000059 USD. Recent analysis indicates a bullish divergence, suggesting a possible reversal from its earlier downtrend.
As of now, 55.27% of FLOKI holders are in profit. However, the trading landscape shows many traders are over-leveraged, hinting at future volatility.
FLOKI has seen a sharp decline of approximately 11.43% in just a day, with weekly losses reaching 23%. This downturn has been primarily driven by both derivative and spot traders actively engaging in sell-offs, creating a bearish atmosphere.
Current liquidity clusters signal further potential decreases, while the long-to-short ratio of 0.7828 indicates stronger selling pressure. Open interest has significantly decreased to $14.76 million, illustrating the growing bearish sentiment among traders.
FLOKI’s price is currently at 0.00007121 USD, showing a 12% increase. However, it faces selling pressure from short-term holders, whose profit-taking raises concerns about the sustainability of this gain.
The coin struggles with resistance at 0.00007132 USD and may consolidate between 0.00007132 USD and 0.00005903 USD. A move above 0.00009357 USD is crucial to shift the bearish sentiment and encourage a sustainable recovery.
FLOKI has successfully reclaimed the 0.5 Fibonacci retracement level at 0.00006201, demonstrating bullish strength. With a surge in open interest to approximately 152.48 million, trader participation is increasing, suggesting a positive market sentiment.
FLOKI’s upcoming listing on the SIX Swiss Exchange includes an ETP supported by 16 billion tokens, enhancing investor access. High trading volumes and a positive Long/Short Ratio further indicate strong demand and bullish outlook.
Over the past 24 hours, Floki’s price hit 0.000057 USD, a 9.12% drop, contributing to a 29.35% decline over the month. This significant decrease has attracted whales, leading to a remarkable purchase of 27 billion tokens.
With large transactions increasing by 900% and capital inflow from large holders rising by 277%, the outlook for Floki remains bullish. Expectations suggest it could recover to 0.000073 USD if buying pressure continues.
Despite a 150% surge in large transactions and a growth in Open Interest to 15.51 million USD, FLOKI faces resistance. Network growth’s decline raises concerns about price sustainability amidst growing interest.
Smaller transactions rose by 60%, while larger ones saw an increase of 150%. However, there’s no significant activity in transactions over 1 million USD, indicating larger investors are waiting.
FLOKI is consolidating in a falling wedge pattern, currently priced at 0.00009357 USD with a slight decline of 0.80%. Traders are monitoring potential breakouts amidst liquidations signaling caution.
Floki experienced a remarkable 187% increase in whale inflows, indicating strong buying activity among large holders. Notably, the price of Floki rose by 9.78%, reflecting positive market sentiment.
Increased buying pressure coincided with the upcoming Stocktwits marketing campaign, driving demand. The campaign aimed to highlight the Floki Trading Bot to potential investors.
Floki trading activity showed more buy orders than sell orders, suggesting that investors expect a market recovery. Chart indicators indicate a potential bullish crossover, which may further support the price uptrend.
FLOKI has experienced a significant decline of 58% since peaking at $0.000201 in January, now facing resistance and pressure to dip further.
A liquidity cluster at $0.000086 may trigger another price dip, while expectations for consolidation between $0.000077 and $0.000083 remain.
The persistent selling indicates a bearish market sentiment, making a quick recovery unlikely as investors wait for signs of reversal.
FLOKI’s price has dropped over 80% since its peak, leaving only 6,980 addresses profitable. The supply concentration, with 72% held by large investors or ‘whales’, adds to the market’s volatility, exacerbating concerns for existing holders.
For FLOKI to recover, the engagement of its major holders is crucial. Trading volume has decreased by 31.99%, and unless there’s a change in sentiment, the risk of significant sell-offs remains likely.
FLOKI has dropped to a three-week low of 0.000155 USD, signaling a long-term downtrend. The market capitalization of memecoins showed a significant decrease of 17%, with current figures around 94 billion USD, reflecting overall bearish sentiment.
Despite the bearish trend, derivatives trading remains robust with the Open Interest for FLOKI rising to 28 million USD. However, funding rates have dropped to 0.0028%, indicating that traders are hesitant to keep their open positions.
On-chain signals reveal that FLOKI whales are less inclined to buy the dip, with large transactions decreasing by 14%. Conversely, there is a slight uptick in large holder positions that could potentially support the coin’s performance in the long term.